A good year for carveouts
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PE-led carveouts are having a good year, according to PitchBook’s Q3 US PE Breakdown. A healthy fourth quarter will bring 2022 in line with prior years, despite the sluggish market overall. Corporate America continues to struggle in this inflationary environment, creating opportunities to shed noncore assets to raise cash and streamline priorities. Almost $74 billion of PE capital has gone to carveouts this year, which would be a decent showing by itself. But with another quarter to go, we expect to see a strong finish for the chart above.